Khalid Ahmed, Real Estate Agent
111 Grangeway Ave. M1H 3E9 Toronto, ON, Canada

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28 Eastern. Only 12 Stories Project From Alterra in Downtown Toronto, Featuring 9Ft Ceilings, Quartz Counters and Stainless Steel Appliances as Standard, Prices starting from $500K. call me for more information.

Market Watch November 2019

The average selling price was $852,142 in October 2019 up 5.5% year-over-year compared to October 2018. On a seasonally adjusted basis, the average selling price was up by 0.1% over September 2019

10 Things You Need to Know Before You Buy A Piece of Land Cost of Surrounding Land Analyze similar pieces of land in the area to ensure that you are purchasing the land for a fair price. This will also help you evaluate your land's worth if you decide to sell it in the future. Review A Recent Survey When purchasing a piece of land, it is important to review an updated survey to verify the boundaries and easements associated with the land. A land survey is a map that out...line's the property's legal boundaries. Cost of Developing Land There are some significant costs associated with converting the lot into a residence if you plan to build on your land. If the land is far from established utilities, accessing power lines can become expensive. Paving the land is another major expense. Proximity to Utilities If the piece of land is not near power lines or a water main, accessing the nearest utility hub can be inconvenient and expensive. If the land is in a remote region, the cost to access utility hubs must be considered. You Need to Pass Soil Test Specialists need to conduct a soil test if the land is not near a municipal sewer system in order to ensure that the soil on the land can handle any leakage from a septic system. You cannot build on the land if it does not meet the requirements of this test. Ensure Your Zoning is Appropriate Areas are usually zoned for a specific purpose such as residential, commercial or industrial. It is important to find out which zoning laws apply to the area. Your property can be rezoned if you need to as long as you are well prepared and do the research prior to purchasing the property. Get Your List of Restrictions Restrictions remain valid even when ownership of the land changes. Prior to purchasing a piece of land, ensure that you are aware of any restrictions. These restrictions can include building a fence, number of vehicles permitted etc. Proximity to Roads It is important to have access to a well maintained roadway particularly when purchasing land in more rural areas. If you choose to develop the land, reliable access to nearby cities or towns to access services or buy necessities is needed. Frequency of Natural Disasters Check to see if the land you intend to purchase is within a zone prone to flooding or other natural disasters. Insurance may not cover for the land or the property. Managing Land on An Incline Land on an incline/slope is more expensive to develop and needs significant planning when building a residence or business. You also need to look out for water runoff as the land can be prone to flooding or mudslides in rainier climates. Reference: HGTV Canada https://www.hgtv.ca//need-to-know-before-buy-land-1932047/#

Rising Toronto Home Prices, Sales Lift National Real Estate Forecast The Canadian Real Estate Association (CREA) is predicting that prices of homes will increase 0.5 per cent in the country this year - an increase from its June forecast of a 0.6 per cent decline. CREA increased its annual home price and sales prediction for the year partly due to the increasing fortunes of housing markets in Ontario including the Toronto area. Home sales in the Toronto region increased 13 p...er cent last month on a year-over-year basis with a 4.9 per cent benchmark price increase to $802,400. Condo units played a major role in the gain. Home sales increased in many of Canada's biggest markets. Home sales increased in Montreal, Greater Toronto Area, Winnipeg, Calgary and B.C.'s Lower Mainland. CREA senior economist Shaun Cathcart stated that home sales have been recovering all across Ontario including Toronto. He mentioned that sales have been stronger than anticipated due to strong fundamentals including lower mortgage rates. CREA also reported that the number of listings were higher than average in Newfoundland and the Prairies. However, listings were low in Quebec, Ontario and the Maritimes creating more competition between buyers. Reference: Toronto Star https://www.thestar.com//rising-toronto-home-prices-sales-

Secrets No One Tells You That'll Help A Home Fetch Top Dollar Make The Right Use of Rooms Using rooms so that they reflect their original purpose is a great way for buyers to envision themselves living there. If the dining room is used as a kid's playroom or if the loft is empty, they can be re-staged to reflect their original purpose. ... Reglaze the Bathroom Reglazing an old bathroom can modernize a dated bathroom. Bathrooms and kitchens can help sell a property therefore any small improvement done can make a huge difference. List Under Value According to a real estate professional from Sotheby's International Realty, data suggests that if a home is listed 10% under market value, it will attract 75% of the buyer pool, versus only 30% if a home is listed 10% over market value. Provide Insider Information Providing details of restaurants, schools, libraries and nearby amenities in the listing will be useful to buyers. Remember, no one knows these details better than the homeowner. Create a Video Tour Filming a video tour of the property can draw buyers. It is an inexpensive way to showcase the home exactly how an open house would. List the House Extras Don't forget to list the house extras such as motion-sensitive outdoor lighting, a camera door bell, a phone-activated security system etc. These can be added bonuses for buyers. Ensure The Mailbox Looks Amazing The mailbox can be one of the first things buyers see. Curb appeal also matters. Remember, first impressions can make a difference. Does the driveway look cracked? These are details to keep in mind when selling a home. Reference: Realtor.com https://www.realtor.com//secrets-no-one-tells-you-to-fet/

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28 Eastern. Only 12 Stories Project From Alterra in Downtown Toronto, Featuring 9Ft Ceilings, Quartz Counters and Stainless Steel Appliances as Standard, Prices starting from $500K. call me for more information.

Common questions for Short Rentals & Airbnb What are the rules for Airbnb? Every city will set its own rules for renting out all or part of a property on Airbnb or other short-term rental websites. In Toronto, for example, it is expected that only a principal residence will be able to be used for Airbnb. You can either rent out up to three of your bedrooms, or you can rent out the entire home, up to 180 days per year. You will also have to pay $50 to register the unit with th...e city and charge a four-per-cent tax. Are guests considered tenants under the Residential Tenancies Act of Ontario? This is not a simple answer. If you are living in a home or condominium and you just rent out rooms to guests on Airbnb, they are not tenants and can be treated as a guest and must leave when you ask them to leave. You do not have to use the Ontario Standard Form Lease. However, if they are renting your entire home, even for a few days, an argument can be made that they are in fact tenants and you need to sign the Ontario Standard Form Lease, which will govern the relationship. It will make no difference if this is a furnished apartment or not. Can you evict a tenant to turn the unit into an Airbnb? The likely answer to this is no in Ontario. While an eviction is possible if you are converting the unit to a commercial use, it is not permitted when the business will be for Airbnb. It will also likely not be possible to evict someone using the personal use family reason and then trying to rent all or part of the home on Airbnb before one year after the eviction. This could lead to penalties under the act. Can you evict a tenant who is renting your unit on Airbnb without permission? The answer is likely yes. This would be considered either an illegal sublet if no permission was granted in advance and a violation of the act, in that the tenant would be subletting for more money than they are paying in rent. However, the landlord would have to start eviction proceedings regarding any sublet within 60 days of finding out. Will insurance cover any damage caused by guests? Airbnb and similar sites offer insurance coverage, but it is recommended that you also inform your own insurance company if you are planning to rent it out, since the risk of damage will increase. For example, if the guest and owner privately agree to extend their stay without going through the short-term website, the website insurance policy will likely deny any claim. Further, if damage occurs that was not caused by the guest, the owner’s insurance claim to their own company will likely be denied if they were not advised about the new use of the property. Source: Mark Weisleder

Market Watch November 2019

The average selling price was $852,142 in October 2019 up 5.5% year-over-year compared to October 2018. On a seasonally adjusted basis, the average selling price was up by 0.1% over September 2019

10 Things You Need to Know Before You Buy A Piece of Land Cost of Surrounding Land Analyze similar pieces of land in the area to ensure that you are purchasing the land for a fair price. This will also help you evaluate your land's worth if you decide to sell it in the future. Review A Recent Survey When purchasing a piece of land, it is important to review an updated survey to verify the boundaries and easements associated with the land. A land survey is a map that out...line's the property's legal boundaries. Cost of Developing Land There are some significant costs associated with converting the lot into a residence if you plan to build on your land. If the land is far from established utilities, accessing power lines can become expensive. Paving the land is another major expense. Proximity to Utilities If the piece of land is not near power lines or a water main, accessing the nearest utility hub can be inconvenient and expensive. If the land is in a remote region, the cost to access utility hubs must be considered. You Need to Pass Soil Test Specialists need to conduct a soil test if the land is not near a municipal sewer system in order to ensure that the soil on the land can handle any leakage from a septic system. You cannot build on the land if it does not meet the requirements of this test. Ensure Your Zoning is Appropriate Areas are usually zoned for a specific purpose such as residential, commercial or industrial. It is important to find out which zoning laws apply to the area. Your property can be rezoned if you need to as long as you are well prepared and do the research prior to purchasing the property. Get Your List of Restrictions Restrictions remain valid even when ownership of the land changes. Prior to purchasing a piece of land, ensure that you are aware of any restrictions. These restrictions can include building a fence, number of vehicles permitted etc. Proximity to Roads It is important to have access to a well maintained roadway particularly when purchasing land in more rural areas. If you choose to develop the land, reliable access to nearby cities or towns to access services or buy necessities is needed. Frequency of Natural Disasters Check to see if the land you intend to purchase is within a zone prone to flooding or other natural disasters. Insurance may not cover for the land or the property. Managing Land on An Incline Land on an incline/slope is more expensive to develop and needs significant planning when building a residence or business. You also need to look out for water runoff as the land can be prone to flooding or mudslides in rainier climates. Reference: HGTV Canada https://www.hgtv.ca//need-to-know-before-buy-land-1932047/#

Rising Toronto Home Prices, Sales Lift National Real Estate Forecast The Canadian Real Estate Association (CREA) is predicting that prices of homes will increase 0.5 per cent in the country this year - an increase from its June forecast of a 0.6 per cent decline. CREA increased its annual home price and sales prediction for the year partly due to the increasing fortunes of housing markets in Ontario including the Toronto area. Home sales in the Toronto region increased 13 p...er cent last month on a year-over-year basis with a 4.9 per cent benchmark price increase to $802,400. Condo units played a major role in the gain. Home sales increased in many of Canada's biggest markets. Home sales increased in Montreal, Greater Toronto Area, Winnipeg, Calgary and B.C.'s Lower Mainland. CREA senior economist Shaun Cathcart stated that home sales have been recovering all across Ontario including Toronto. He mentioned that sales have been stronger than anticipated due to strong fundamentals including lower mortgage rates. CREA also reported that the number of listings were higher than average in Newfoundland and the Prairies. However, listings were low in Quebec, Ontario and the Maritimes creating more competition between buyers. Reference: Toronto Star https://www.thestar.com//rising-toronto-home-prices-sales-

Highlights of the FTHBI (First Time Home Buyer Incentive) Program are. Accepting Applications from Sep 2, 2019 Closing should be on or after Nov 1, 2019 First Time Home Buyer... 5% for Existing Home 5%-10% for New Construction LTV less than 80% Incentive Term 25 Years Income must not exceed $120,000 Max Property Value - 4 times of income Owner Occupied Only Repayment in 25 years or if the property is sold before that. Please call if you have any question